VOL. XLIV

No 36

3-September-2001 

RUSSIA

Lukoil Gains North Africa Exploration Acreage Through Bitech Acquisition

As part of its drive to boost its overseas oil production, Russian oil giant Lukoil has acquired a number of assets in North Africa through the acquisition of Canada痴 Bitech Petroleum. Bitech痴 production at the time of the purchase was 9,733 b/d, with proven and probable reserves estimated at 51.2mn barrels. Outside of the CIS, where the company has its major producing...